Fiserv (NASDAQ:FISV) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Fiserv (NASDAQ:FISV) in a research note released on Tuesday, The Fly reports. The brokerage issued a buy rating on the business services provider’s stock.

Several other research analysts also recently commented on the stock. UBS Group initiated coverage on shares of Fiserv in a research note on Monday, October 14th. They issued a buy rating and a $120.00 price target on the stock. Citigroup upgraded shares of Fiserv from a neutral rating to a buy rating in a research note on Thursday, August 29th. ValuEngine lowered shares of Fiserv from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. started coverage on shares of Fiserv in a research note on Wednesday, October 30th. They set a neutral rating and a $119.00 price target for the company. Finally, Atlantic Securities began coverage on shares of Fiserv in a research note on Tuesday, September 3rd. They set a neutral rating and a $131.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $108.24.

Shares of Fiserv stock opened at $114.42 on Tuesday. The stock’s fifty day moving average is $109.45 and its two-hundred day moving average is $101.01. The company has a market capitalization of $79.03 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 2.42 and a beta of 0.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.66. Fiserv has a 52 week low of $68.45 and a 52 week high of $117.04.

Fiserv (NASDAQ:FISV) last released its earnings results on Wednesday, November 6th. The business services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.78 billion. Fiserv had a return on equity of 16.73% and a net margin of 12.11%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. As a group, research analysts anticipate that Fiserv will post 4.01 earnings per share for the current year.

In other news, CEO Jeffery W. Yabuki sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $103.67, for a total value of $2,591,750.00. Following the completion of the transaction, the chief executive officer now directly owns 271,229 shares of the company’s stock, valued at approximately $28,118,310.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lynn S. Mccreary sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.39, for a total value of $2,005,020.00. Following the completion of the transaction, the insider now directly owns 70,364 shares of the company’s stock, valued at $7,837,845.96. The disclosure for this sale can be found here. Insiders have sold a total of 123,000 shares of company stock worth $13,573,170 in the last ninety days. Insiders own 1.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kohlberg Kravis Roberts & Co. L.P. bought a new position in Fiserv in the third quarter worth about $11,438,995,000. State Street Corp boosted its holdings in shares of Fiserv by 44.0% in the 3rd quarter. State Street Corp now owns 23,673,283 shares of the business services provider’s stock valued at $2,452,315,000 after buying an additional 7,234,231 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Fiserv by 8.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,136,590 shares of the business services provider’s stock worth $4,661,611,000 after buying an additional 3,933,642 shares during the last quarter. Waddell & Reed Financial Inc. grew its position in shares of Fiserv by 302.5% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,670,227 shares of the business services provider’s stock worth $243,418,000 after buying an additional 2,006,798 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Fiserv by 2,018.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,904,545 shares of the business services provider’s stock worth $173,618,000 after buying an additional 1,814,639 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.

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Analyst Recommendations for Fiserv (NASDAQ:FISV)

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